How will affect the price and the quantity imported, Microeconomics

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How will affect the price and the quantity imported

The domestic demand for almonds is QD = 20,000,000 - 500,000p. The domestic supply is QS = -2,000,000 + 600,000p, where quantity is in crates per year and p = price per crate. The world price is $15 per crate. Suppose that the country initially has no restrictions on trade and then imposes an import quota of 3,000,000 crates per year. How will this affect the price and the quantity imported? What are the welfare effects?

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Microeconomics: How will affect the price and the quantity imported

Reference No:- TGS070071

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Recent Questions Asked Microeconomics

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Q : World trading price ratio

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Q : How will affect the price and the quantity imported

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Ask an Expert for Answer!!

Microeconomics: How will affect the price and the quantity imported

Reference No:- TGS070071

Recent Questions Asked Microeconomics

Q : Wicked problems often crop up when organizations

Q : World trading price ratio

Q : Consciousness condense these sentences

Q : List the sevenbasic parts of a speech

Q : How will affect the price and the quantity imported

Q : How losses will affect the taxation income of the owner

Q : Full-employment deficit and actual buget deficit

Q : Compute equilibrium level of income or real gdp for economy

Q : Phase of the accounting cycle

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